President urges firms to invest and expand

05 Sep 2019

Speaking at the Botswana Investment and Trade Centre’s (BITC) networking session, President Dr Mokgweetsi Masisi was full of praise for the country’s steady macroeconomic environment, which enabled the government to develop resources that helped boost economic and social infrastructure ecosystem. 

‘We are consistently investing in new and improved core infrastructure such as power plants, fiber-optic networks, roads, airports and railways,’ Dr Masisi said. He continued by encouraging firms and traders to start investing across Africa and noted that foreign companies in Botswana had a corporate tax regime at the low rates of 5%-22%. In addition, facilities such as the Kazungula Bridge, Dry Port in Namibia, Trans Kalahari Corridor were mentioned as ones that have aided to the country’s infrastructure. 

The African country was described as a worldwide trader and works with a number of other countries in trade. It also has a number of trade agreements such as the Southern African Customs Union (SACU), SADC, Botswana SADC/European Union Economic Partnership Customs Agreement, Africa Growth and Opportunity Act (AGOA) as well as the Tripartite Free Trade Agreement (SADC, COMESA, EAC). Firms which want to grow in Botswana were urged to refer to the BITC. Dr Masisi stated, ‘I, therefore, wish to extend a personal invitation to you to consider Botswana as a base and enabler for your business expansions across Africa.’

In addition, Minister of Investment, Trade and Industry Ms Bogolo Kenewendo explained how the government’s plan for Botswana is set, ‘The President has set out a very strong and clear picture of where he would like to take Botswana in the next five to 10 years. For us, it has been about the impact that would be created domestically, and the ripple effect that would be created to the rest of the sub-region and the rest of the continent.’